- Evercore ISI introduces its “The Magnificent 7” of semiconductor stocks heading into the end of the year:
- Nvidia (NVDA +1.4%) is rated at Outperform with a $300 target (was: $275) on the Turing gaming GPU, which should drive higher earnings power in the near and distant future.
- Micron (MU -1.3%) is at Outperform and $100 with a compelling risk/reward balance. The firm predicts a Q4 beat on September 20 despite memory unit concerns.
- Xilinx (XLNX +1.4%) is at Outperform and $80 with long-term data center upside.
*Rounding out the list: Marvell (MRVL +0.3%), Outperform and $27; (KLAC +1.4%); ASML, Outperform and $233 (ASML -3.2%); Universal Display (OLED +1.8%), Outperform and $150. - Other Evercore price target changes: Lam Research (LRCX -1.2%) from $240 to $230; Maxim Integrated (MXIM +0.3%) from $63 to $65.
- The firm recommends investors avoid data center-centric businesses like Intel (INTC -0.8%) through the rest of 2018.
- Source: Bloomberg First Word.
- Previously: KLA-Tencor +1.4% after Evercore upgrade (Sept. 4)
- Previously: Analog Devices -1.4% after Evercore downgrade (Sept. 4)
- Previously: Seagate Tech -3.8% on Evercore downgrade for near-term limits (Sept. 4)
- Previously: Western Digital (NASDAQ:WDC) -2.6% on downgrade for NAND pricing decline (Sept. 4)
- Now read: Intel's Challenging Investment
Original article